Book-Keeping Practices and Accountability of Cocoa Industry in Western North Region. A Study of Suaman District

Abstract

This study sought to assess the book-keeping practices and accountability in the cocoa industry in Western North Region, a study of Suaman District. As such, specific objectives were to examine the book-keeping practices in the cocoa sector in Suaman District, examine the factors that affect accountability in the cocoa sector in Suaman District, assess the accountability challenges facing the cocoa sector in Suaman District and to analyze the effect of bookkeeping on accountability in the cocoa sector in Suaman District. Data was collected through self-administered questionnaire from the employees of licenced cocoa buying companies in Suaman District who are mandated to submit weekly and monthly accounts to headquarters (district managers, depot keepers and accountants). The study used quantitative research approach for data collection, analysis and interpretation. Cluster sampling and purposive sampling techniques were used to choose the sample size of 65 for the study. The results revealed that book-keeping has a significant effect on accountability in the industry. It also revealed that staff financial indiscipline and inadequate knowledge in book-keeping are some of the challenges facing accountability in the sector. It also revealed that there is over-reliance on manual system of records keeping in the sector. The studies concluded that managers of the sector should invest in education of staff on book-keeping and also introduce accounting software in its operations. It further recommended increase in remuneration packages of staff to reduce misappropriation of funds.